Zurcher Kantonalbank Zurich Cantonalbank Sells 4,136 Shares of STERIS plc (NYSE:STE)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of STERIS plc (NYSE:STE) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,117 shares of the medical equipment provider’s stock after selling 4,136 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in STERIS were worth $8,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of STERIS by 171.2% during the 3rd quarter. Franklin Resources Inc. now owns 838,569 shares of the medical equipment provider’s stock valued at $191,370,000 after purchasing an additional 529,308 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of STERIS by 30.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,970 shares of the medical equipment provider’s stock valued at $2,275,000 after purchasing an additional 2,583 shares during the period. KBC Group NV grew its stake in STERIS by 52.0% during the third quarter. KBC Group NV now owns 12,071 shares of the medical equipment provider’s stock valued at $2,928,000 after acquiring an additional 4,132 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in STERIS during the third quarter valued at $9,949,000. Finally, Public Sector Pension Investment Board grew its stake in STERIS by 13.2% during the third quarter. Public Sector Pension Investment Board now owns 4,283 shares of the medical equipment provider’s stock valued at $1,039,000 after acquiring an additional 500 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $265.00 target price on shares of STERIS in a research note on Thursday, February 6th. Piper Sandler raised their target price on shares of STERIS from $260.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Stephens reaffirmed an “overweight” rating and set a $240.00 target price on shares of STERIS in a research note on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.75.

STERIS Stock Performance

Shares of NYSE:STE opened at $222.39 on Friday. STERIS plc has a 52 week low of $197.82 and a 52 week high of $248.24. The stock has a market capitalization of $21.85 billion, a P/E ratio of 47.22 and a beta of 0.92. The firm has a fifty day simple moving average of $218.71 and a two-hundred day simple moving average of $222.64. The company has a quick ratio of 1.40, a current ratio of 2.13 and a debt-to-equity ratio of 0.32.

STERIS (NYSE:STE) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $2.32 EPS for the quarter, missing analysts’ consensus estimates of $2.33 by ($0.01). STERIS had a return on equity of 13.91% and a net margin of 8.66%. On average, analysts expect that STERIS plc will post 9.08 earnings per share for the current fiscal year.

STERIS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Thursday, February 20th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.03%. STERIS’s payout ratio is currently 48.41%.

About STERIS

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.